“Since the mid-1990s, software billionaire Larry Ellison has accumulated hundreds of millions of dollars worth of top-shelf properties around the world,” according to the Wall Street Journal.
“Mr. Ellison has been applying this approach to a new location: Lake Tahoe, the resort area straddling the California-Nevada border. Records show Mr. Ellison has spent $102 million in the last several years buying property, both on and off the market, to assemble three different parcels fronting the 191-square-mile lake.
“On one of them, purchased over three years for a total of $58 million, Mr. Ellison is constructing a compound with more than 18,000 square feet of living space as well as a pond with an island, waterfalls and a tennis court with a pavilion, according to plans submitted to Washoe County, Nev.
“Lake Tahoe, with its pristine waters and world-class skiing, has long been a seductive draw for Bay Area residents. Incline Village, the town on the Nevada side of the lake where Mr. Ellison has made a number of his buys, bears the nickname ‘Income Village’ for its wealthy residents and its reputation as a tax haven (Nevada has no personal income tax).
“In Incline Village, locals say Mr. Ellison’s presence has been relatively free of controversy. Neighbors say his compound evokes the feel of old Tahoe and that Mr. Ellison has done a meticulous job of making sure the house fits into the surroundings. “It’s in keeping with the rustic atmosphere of the mountain community,” says Mr. Busick, who has since downsized to a condominium a few doors away from Mr. Ellison.”
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